Sources told Forbes on Saturday that Facebook founder and the world's youngest billionaire Mark Zuckerberg has recently acquired a 700-acre beach front estate in Hawaii. The spectacular coastline house reportedly costs over $100 million.
According to a Business Insider report, Mark Zuckerberg's house includes two separate properties. The vast property on the North Shore of the Hawaiian island of Kauai includes a 357-acre former sugarcane plantation called Kahu'aina Plantation, and a 393-acre property with a pristine white sand coast known as Pila'a Beach.
The estate, with white sand beaches and an organic farm is the latest residence of the Zuckerbergs. The property has also been approved for road development as reported by NY Daily News. However, reports said that Mark Zuckerberg's house has not yet been constructed on the lavish property.
Meanwhile, under the Hawaiian law, the beach will have to remain open to the public as the state has no private stretches of sand.
Reports say that 30-year-old social media founder Mark Zuckerberg is the second Silicon Valley to acquire part of Hawaii. Last year. One of America's wealthiest men, Oracle Chairman Larry Ellison purchased the whole of Lanai, which is the sixth largest island in Hawaii and it costs up to $600 million.
Rumors sparked last year that Mark Zuckerberg could be interested to buy a house on Kauai after he was seen on the island with his wife, Priscilla Chan while eating at Bubba Burgers.
Mark Zuckerberg's latest acquisition seemed to be an addition to his assets. In 2010, Zuckerberg was reportedly leasing a modest property near Facebook's head office. Then he upgraded to a $7 million residence in Palo Alto, California the following year. The 5,000 square-feet house was still modest in comparable to the colossal estates of other tech-billionaires.
The sale price of Mark Zuckerberg's acquisition of the properties in Hawaii has not been recorded at the county but Pacific Business News' local reporter Duane Shimogawa said that the two properties cost $49.8 million and $66 million separately, totaling to over $100 million for the whole estate.
Along with Mark Zuckerberg's new Hawaiian property, the Facebook billionaire also brought an unusually lengthy non-disclosure agreement.
"We don't comment on rumours and speculation, but thank you for reaching out!" a Facebook spokesperson told Forbes when asked about Mark Zuckerberg's latest reported acquisition.
The Telegraph UK said the reason for Mark Zuckerberg's latest acquisition is to build a house in the $100 million worth of swathe of land where he can be able to create a private getaway fitted for his prestige as one of the world's richest men.
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